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UK supermarket Morrisons' sales rise for sixth straight quarter
May 4, 2017 / 6:15 AM / 7 months ago

UK supermarket Morrisons' sales rise for sixth straight quarter

LONDON, May 4 (Reuters) - Morrisons, Britain’s fourth biggest supermarket operator, beat forecasts as it reported a sixth consecutive quarter of underlying sales growth, reflecting continued improvement in the way its stores are run.

The Bradford, northern England, based company also said on Thursday that its expectations and guidance for the 2017-18 year were unchanged.

Morrisons said sales at stores open over a year, excluding fuel, rose 3.4 percent in the 13 weeks to April 30, its fiscal first quarter.

That compared to analysts’ average forecast of growth of 1.8 percent and growth in the previous quarter of 2.5 percent.

Total sales, excluding fuel, increased 2.8 percent.

“Our new financial year has started well,” said Chief Executive David Potts. (Reporting by James Davey; Editing by Susan Fenton)

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